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DS November Newsletter & HMRC Updates

What's new with DS Business Support

  • Don't forget: If you are always hands on at work and struggle to keep on top of admin and paying suppliers, we are here to take that off your to do list. We have teamed up with a great software company which integrate with your Xero - meaning any bills which are due are paid on time - without us needing direct access to your bank account. If you would like more information on this service, please let me know - this can also be used for paying wages

  • Don't forget: it isn't only bookkeeping we do here - we are also available as Virtual Assistants to keep on top of your emails, invoicing, chasing clients' invoices owed to you - clearing out junk emails and making you aware of only the emails which you need to action

  • As you know - on our invoices to you there are options to pay via Stripe(card), PayPal, bank transfer and standing order if you are on a fixed fee. For those of you who's fees change each monthly depending on the volume of work, or who manually reimburse us for monthly software, there is now an option to pay via direct debit. Please let me know if you need a hand setting this up.

  • **NEWS** We are super proud to have been chosen for a write up from Xero. I am so grateful how far the company has come in the last couple of years, and I couldn't have done any of it without our loyal clients, hardworking staff and support from the great accountants we work alongside. You can find the blog on this follow link for a 5 mins read How the founder of DS Business Support fell in love with bookkeeping | Xero Blog

  • This month - I was honoured to be invited to a Xero lunch with only a selected 30 Xero partners in the Southwest - it was so lovely to meet other business owners and find out about their journey into running their own bookkeeping practice

We have some exciting news to announce in the New Year which I cannot wait to share with you

HMRC Updates

Usually, I list here the key points of the HRMC updates - however, there has been so many, of which, some won't apply to all of your businesses. Rather than a lengthy email of items which wouldn't affect you - I have attached a link which will take you directly to the updates, of which you can choose to read the ones that are relevant to you. However, if you would like any of the changes explained in a little more detail - do let me know

Autumn Statement 2022 tax-related documents - GOV.UK (www.gov.uk)

Our Sister Company – The Offsite Office

Alongside DS Business Support – we have a siter company which we run with other local bookkeepers and accountants which offers:

  • Registered office address – we offer a registered office address for limited companies and directors who trade from home or freelance and wish to keep their home address private and off the public register on Companies House

More information can be found on our website www.theoffsiteoffice.co.uk Recommendations

We work with some great companies/individuals to ensure not only the background of DS Business Support is top notch, but also to be able to refer their services to our clients

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  • mkdsbusiness

Whats new with DS Business Support

  • We are happy to announce a brand new service!! If you are always hands on at work and struggle to keep on top of admin and paying suppliers, we are here to take that off your to do list. We have teamed up with a great software company which integrate with your Xero - meaning any bills which are due are paid on time - without us needing direct access to your bank account. If you would like more information on this service, please let me know

  • As you know - on our invoices to you there are options to pay via Stripe(card), PayPal, bank transfer and standing order if you are on a fixed fee. For those of you who's fees change each monthly depending on the volume of work, or who manually reimburse us for monthly software, there is now an option to pay via direct debit. Please let me know if you need a hand setting this up.

  • **NEWS** We are super proud to have been chosen for a write up from Xero. I am so grateful how far the company has come in the last couple of years and I couldn't of done any of it without our loyal clients, hard working staff and support from the great accountants we work alongside. You can find the blog on this follow link for a 5 mins read How the founder of DS Business Support fell in love with bookkeeping | Xero Blog

HMRC Updates There has been many changes with HMRC this month

  • From the 6th November - National Insurance will be cut by 1.25% on the 6th November reversing a rise of the same amount earlier this year

  • a reversal of the planned April 2023 increases in the rate of corporation tax - this will remain at 19%

  • a two-year £2,500 Energy Price Guarantee (EPG) for consumers

  • The reduction in the basic rate of income tax to 19%, which was originally scheduled for 6 April 2024, will now take effect from the beginning of the 2023/24 tax year

  • The additional rate tax of 45% that currently applies on annual income over £150,000 in England, Wales and Northern Ireland will be abolished from 2023/24

  • The additional rate for savings, dividends and the default rates will also be removed from April 2023 and this change will apply across the whole of the UK

  • From 2023/24, the tax rates applicable to dividends will be reduced by 1.25 percentage points, taking them back to 2021/22 levels.

  • Stamp duty land tax (SDLT) rates for residential property will be revised from 23 September 2022, increasing the 0% band threshold from £125,000 to £250,000

  • The Government will also increase relief for first-time buyers, raising the 0% band threshold from £300,000 to £425,000 and the maximum value of property on which they can claim the relief from £500,000 to £625,000

#hmrcupdate #hmrcupdates #paye #vat #tax #taxupdate #UKbudget #payroll #cis #whatsnew #newservice

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